The following is the second entry of the CryptoBridge quarterly summary. Below you will find a condensed account of the previous quarter’s activity, which was documented in greater detail via our weekly development updates.
User support and ticket resolution has become far more metric-based and systematic than in previous quarters. The weekly average of ticket resolution is around 90% since we have begun tracking and measuring. Our goal is to maintain the smallest number possible at all times, and we continue to trend down toward zero backlog.
We have also resumed development on the user-facing support wizard (self-help) tool as well and hope to release it into production soon. This will be of great value to users as there will be far less need to consult directly with support agents in Discord. This will introduce an opportunity for users to build understanding and self-efficacy, which aligns with our ongoing educational efforts such as the educational partnership and new YouTube tutorial series.
Please don’t hesitate to open a ticket or reach out directly to support in our official Discord if you have any deposit or withdrawal issues. If you have submitted your user verification information but your account is still not functioning fully, please check the status at https://fractal.id/ to determine if your submission is in a pending state.
Terms of Service and Verification for US citizens
In late February, we introduced additional requirements for our users. Tutorial and FAQ sections have been added to the website as well as being available in our Discord. Much has already been said about the specifics in our various announcements and updates on Twitter, so here we will only give a brief overview of where we stand now.
Acting on recommendations from our legal counsel, we made the decision to undergo the complicated and time-consuming process to implement KYC for US users. Terms of service are also now required for all users. The announcement, roll-out and grace period phase comprised a challenging number of tasks to carry out over only a few weeks, but everything is now securely in place and we may move on.
The better part of our users and community have shown great understanding and patience as we integrated these changes. Trade volume and user activity has not been significantly impacted, if at all.
We remind everyone that identity verification is required only for United States citizens to deposit, withdrawal and trade with their CryptoBridge account. Logging into your account, moving funds within the BitShares ecosystem and removing staked BridgeCoin from vesting positions will remain possible regardless of verification status.
Technical aspects of our solution to address users who have BCO staking positions which persist beyond the end of the grace period are currently being tested.
Regarding the user verification requirement, we want to reiterate that no user’s BCO will be lost or locked forever. All affected US users will be able to exit their BCO position and sell/withdraw despite the ending of the grace period.
For those interested in calculating the potential ROI on BCO, check out this website created by one of our community members . Designed for those with a keen interest in BridgeCoin (BCO), the website allows users to scrutinize a wide array of data such as trading volume (in total and by market pairs), potential ROI, and to export account activity to .CSV files.
We’ve also begun visualizing the staking data featured in the reports. Enjoy!
During Q1 we implemented protocol integrations for two Komodo asset chains which use the Zcash sapling addresses: Pirate (ARRR) VerusCoin (VRSC). Shortly after we’ve also added the Omni protocol (Tether / USDT) and our first ERC20 tokens:
Afterward, the CryptoNote-based Dero (DERO), Loki (LOKI), and SiaPrime (SCP) projects were added. Meanwhile our developers also upgraded our node to comply with Ethereum’s Constantinople hard fork to prevent disruption on the CryptoBridge ETH markets.
Communications & Media
To compliment our read-only Telegram channel, we’ve created an automated Twitter account (@CryptoBridgeAnn) which will announce wallet status updates (deposit and withdrawals), new coin listing and de-listing announcements separately from our existing social media content and announcements.
Of course, Discord is still the best and most immediate place to obtain information and support.
BitShares Proposals and Proxy Status
A fee increase proposal for BitShares led to our decision to become a proxy for voting. Users may set their accounts to allow CryptoBridge to represent them. Efforts to improve coordination with the BitShares community are ongoing as well.
Communication with applicants has been streamlined via automation to reduce delay and friction during the process. A process to ensure projects have a much higher degree of accountability is being developed and we hope to debut it soon as well.
Education and Promotional Efforts
The first three months of 2019 have also seen the introduction of our educational partnership series of posts each Mondays on Twitter. We’re pleased to share the high-quality content of Crypto101, CoinYou and Ambroid with our users and grateful for their participation.
Additionally, for our part of the educational partnership, we have begun supplementing our written material with tutorial video content on YouTube as well as producing short promotional video clips which communities can utilize to pursue supplemental marketing avenues.
Also introduced during this quarter has been the series of overview articles for projects listed on our platform to engage users about assets on Fridays via Twitter each week. We’ve been pleasantly surprised how much impact this simple gesture has in engaging our common communities and we will continue to expand our backlog of articles.
We conducted two print interviews prior to the announcement of our new user requirements, the first of which with CryptoHobbit and second with Alex Libertas of The Daily Chain. If you’re interested in covering our project or conducting an interview, feel free to reach out.
Cost-effectiveness and efficiency have been a major focus of improvement during this first quarter of 2019 as evidenced by hardware upgrades and refinement in the way we approach the implementation of our node array.
While our work in this area is not complete, we have introduced as much automation into our processes as possible to allow the team to reach a new level of productivity. This also sets the stage for additional scaling.
CryptoBridge has also released docker container software for past blockchain implementations as open source products for general use. These “cointainers” are available at our DockerHub account.
Benchmark status for assets who have been evaluated by Digital Asset Resource Center (DARC) are now displayed directly in the trading interface. This status is indicated by an icon in the column to the right of the asset ticker and gives a quick visual confirmation that a project meets or exceeds the common criteria agreed to in our partnership with DARC.
Volume & Liquidity
Thanks to the excellent responsiveness of the DEXBot team, we have integrated this tool to allow one worker account to operate simultaneously on multiple markets. Preliminary results are promising and we will be exploring further strategies to boost the liquidity in more of our trading pairs.
If you’re interested in using this free application (a worker proposal designed to improve market liquidity throughout the BitShares ecosystem) in combination with our Market Maker Program, we have a new channel in our Discord for questions or to discuss strategies.
Roadmap & Mission Statement
Many have been inquiring about an updated roadmap, and we have planned an official team strategy session in mid-April to lay out our goals for 2019 and beyond. It is our prevailing goal to succinctly place our vision into context and position ourselves securely within this exciting and dynamic emerging digital marketplace. We will be presenting this to the greater digital asset community as soon as possible.